Wednesday, September 30, 2009

Communities differ in use of economic development incentives to attract companies

By: Ryan Schuster, Prairie Business Magazine

Nationwide the use of incentives is intensifying, sweetening the pot for companies looking for prospective sites to house operations ranging from manufacturing to customer service and back office support. Many communities and states have upped the ante to win the economic development sweepstakes at all costs. While most cities in the region have been fairly conservative, some mostly smaller communities have been more aggressive in attempts to lure factories, jobs and increased tax revenue. More here.

Place Marketing Defined

Place marketing means designing a place to satisfy the needs of its target markets. It succeeds when citizens and businesses are pleased with their community, and the expectations of visitors and investors are met.

The potential target markets of place marketing are defined as place customers, which are producers of goods and services, corporate headquarters and regional offices, outside investment and export markets, tourism and hospitality, and new residents.